HOW TO MAKE THEM SAY “WOW!” PKF SRIDHAR & SANTHANAM HOW WOULD YOU LIKE THE AUDITEE TO REACT TO YOU? IF YOU WOULD LIKE TO HEAR: z z z z z z GREAT INCREDIBLE SUPERB THAT’S A PERFECT TEN WHIZ KID WOW! THEN READ ON WE WOULD ALSO LIKE TO HEAR IT! WHY WOW IS IMPORTANT TO US YOUR CONTACT WITH THE AUDITEE IS MOST IMPORTANT TO S&S JAN CARLSON OF SAS CALLED IT “MOMENTS OF TRUTH” UNIQUE OPPORTUNITIES FOR S&S TO DISTINGUISH ITSELF IN A MEMORABLE FASHION DO YOU APPRECIATE THAT z YOU ARE PRIMARILY IN CHARGE OF SATISFYING S&S CLIENTS? FIVE GOLDEN RULES AIM FOR NOTHING BUT THE BEST-DREAM! JAPANESE CALL IT “ICHIBAN”-NUMBER ONE CONTINUOUSLY IMPROVE JAPANESE CALL IT “KAIZEN” COMPARE AND COPY THE BEST PRACTICES OF EVERY ONE THIS IS “ BENCH MARKING” DO WHATEVER YOU DO DIFFERENTLY; OR ADD A LITTLE EXTRA TO EVERY THING YOU DO LET’S CALL IT “BETTER MOUSE TRAP” DON’T DO ANYTHING WHICH YOU WOULD NOT WANT TO APPEAR IN TO- MORROW’S PAPERS IN BAD LIGHT AND GIVE BACK SOMETHING TO SOCIETY THIS IS ETHICS /COMMITMENT Aim for the best EXCEED EXPECTATIONS-1RUN THE EXTRA MILE JERRY GRIFFIN IS ONE OF THE BEST CAR SALESMEN IN U.S.A z THERE WAS NOTHING HE WOULD NOT DO FOR A CUSTOMER z ONE DAY A COMPANY SENT OUT BID SHEETS TO ALL CAR DEALERS ASKING FOR PRICES z ALL DEALERS SENT IN BIDS z JERRY SENT FOUR EXCELLENT CARS TO THE COMPANY PARKING LOT AND ASKED THEM TO CHOOSE IF YOU WANT TO SUCCEED EXCEED EXPECTATIONS ; RUN THE EXTRA MILE A BANK OFFERS FREE SHOE SHINES, BALLOONS FOR KIDS AND SENDS WALLA WALLA ONIONS EVERY AUGUST TO ITS CUSTOMERS EXCEED EXPECTATIONS-2IMPRESS WITH QUALITY SAMSUNG MAKES THE BEST LAPTOP –THE THINNEST AND LIGHTEST CHIN DAE JE, HEAD OF SAMSUNG’S DIGITAL MEDIA DIVISION, SENT A LAPTOP TO MICHAEL DELL ONE SUMMER SAMSUNG AND DELL SIGNED A $16B DEAL! DELL CARRIES A SAMSUNG LAPTOP HIMSELF! SAMSUNG STARTED OUT IN 1970 MAKING CHEAP 12” B&W TV’S UNDER SANYO LABEL A COPY CAT OF YESTERYEARS HAS ENTERED THE TOP TIER OF WORLD’S TECHNOLOGY COMPANIES-NOW FIFTH IN THE WORLD IN PATENTS AHEAD OF MATSUSHITA, SONY, HITACHI, MITSUBISHI ELECTRIC & FUJITSU! EXCEED EXPECTATIONS-3INNOVATE ERIC YAVERBAUN’S FIRM WAS ONE IN A LONG LIST OF 25 WHICH APPLIED FOR THE PUBLIC RELATIONS JOB AT CLUB MED. HOW WOULD HE GET NOTICED WHEN EVEN IN AN ALPHABETICAL LISTING HE WOULD BE LAST! HE HAD A MESSENGER DELIVER A BIG BOX TO THE V.P OF THE CLUB THAT CONTAINED PACKAGES OF INSTANT COFFEE, INSTANT OATMEAL, INSTANT GLUE, INSTANT PUDDING, INSTANT MASHED POTATOES ETC. THE MESSAGE READ-” BY USING THESE PRODUCTS, PERHAPS YOU CAN FIND AN EXTRA FEW MINUTES IN YOUR BUSY DAY TO GIVE ME A CALL.” THE NEXT MORNING THE PRESIDENT CALLED AND SET UP AN APPOINTMENT. HE GOT THE JOB! Exceed expectations-4 Innovate & recognize talent Ramon Magsaysay was worried about a new irrigation project which was delayed as some imported pumps had not arrived. The Public work engineer bought some old diesel trucks, tore them apart and adapted them to work in place of pumps. Project was on schedule. When he heard this, he called this man and asked him to raise his hand. The guy was perplexed but raised his hands. Then and there he was sworn in as the Under Secretary of Public Works! Exceed expectations-5 INNOVATE & ACT A FREAK SPRING BLIZZARD IN APR 97 DUMPED 3’ OF SNOW ON THE CONSTRUCTION SITE OF VITESSE SEMICONDUCTORS TURNING IT INTO A MUD PUDDLE -THREATENING TO PUSH BACK FACTORY OPENING BY A FEW WEEKS & JEOPARDIZING PROFIT PROJECTIONS GIVEN TO WALLSTREET. BOB CUTTER’S SOLUTION: DUMP 1500 TONS OF GRAVEL ON TOP OF THE MUD TO CREATE A MAKESHIFT DRIVEWAY. THE CONSTRUCTION WENT AS PER PLAN THEREAFTER! Exceed expectations-6 INNOVATE & ACT Turner construction company faced no. of challenges in contract for NFL stadium, Denver for $400 M z Main problem - collapsed timeline from 36 to 27 months They needed consent of tax payers and it would take months Solution: They took insurance against the likelihood of vote being rejected and went ahead! Exceed expectations-7 INNOVATE & ACT Reliance industries faced an unprecedented flood situation when materials could not reach the factory in time for their project. Trucks were not in sight and many were marooned They requisitioned BEST buses and removed the seats and transported the materials! Exceed expectations-7 Work hard The two school kids wanted to do work in computers when they were 15 Learnt that mainframe computer in University of Washington was not used between 2 and 6 in the morning Will get up at 1.30 walk a mile and program for 4 hours daily. When they were 20 they had more experience than many other people in the field! The duo were Bill Gates and Paul Allen! JUST HOW TO EXCEED EXPECTATIONS? FIND OUT WHAT PEOPLE DO NOT EXPECT. THEN GO AND DO IT! REMEMBERz THE ONLY PLACE YOU FIND SUCCESS BEFORE WORK IS IN THE DICTIONARY How to innovate? Innovator is one who does not know that it cannot be done. z Bednorz and Muller won the Nobel Prize because they tested materials, which, through accepted wisdom, were not supposed to show superconductivity! An innovator is the one who sees what everyone sees but thinks of what no one else thinks. z When Robin Warren and Barry Marshall said that cause of gastritis inflammation was a bacterium called Heliobacter Pylori, they were ridiculed but they stuck to their guns. They won the Nobel Prize for Medicine. z R.A.Mashelkar, CSIR in Business Today Jan 15, 2006 BECOME INTERESTED THERE ARE TWO BOOK STORE SALES PERSONS z JOE AND JANE A CUSTOMER COMES AND SAYS “I BOUGHT XYZ BOOK; IT IS GREAT” z JOE: “UH, HUH!” AND CONTINUES WITH HIS WORK z JANE: “THAT IS NICE! WHAT DID YOU FIND INTERESTING?” JANE HAS TWO BENEFITS: z SHE HAS LIT UP THE CUSTOMER BY PAYING ATTENTION z WHEN A NEW CUSTOMER COMES LOOKING FOR ADVICE SHE HAS SOMETHING READY SHOULD I TELL YOU WHO WILL BE THE MORE SUCCESSFUL EMPLOYEE? GENIUS IS 99% CONTINUOUS PERSPIRATION THINK OF A BIG, HEAVY FLYWHEEL. TASK: TO GET THAT FLYWHEEL TURNING AS FAST AS POSSIBLE YOU START PUSHING THE WHEEL AND YOU ARE PUSHING HARD, REALLY HARD. THE WHEEL MAKES ONE GIANT, SLOW, CREAKY TURN YOU ARE TIRED BUT YOU KEEP PUSHING IN A CONSISTENT DIRECTION THE FLYWHEEL STARTS TO PICK UP MOMENTUM AND NOW IT HAS GONE 2 REVOLUTIONS THEN 3 THEN 4 – THEN AT SOME POINT THERE IS A BREAK-THROUGH YOU ARE STILL PUSHING HARD BUT NOW IT GOES 100 OR 200 rpms. WHAT WAS THE ONE BIG PUSH THAT MADE IT GO?! z Jim Collins NOTHING IS EASY TAKE FINDING OIL AND GAS FOR INSTANCE: z YOU HAVE TO GO BACK MILLIONS OF YEARS PUT ALL CONTINENTS TOGETHER FIGURE OUT z z z z z HOW LONG NILE HAS BEEN FLOWING NORTH WHY AUSTRALIA BROKE OFF WHEN THE MEDITERRANEAN FLOODED THE BOSPORUS WHEN AND WHERE MESOZOIC BITS OF DECAYING PLANTS, FISH, ALGAE, AND DINOSAURS WERE TRAPPED BELOW THE SURFACE OF THE EARTH AND WHETHER THEY WERE COOKED AT 300* F TO RELAESE HYDROCABONS THAT MAKE UP FOSSIL FUELS AND MOST IMPORTANT WHERE THIS PREHISTORIC SOUP IS TODAY! THERE IS NO IMPOSSIBLE DREAM THE MORE FAITH YOU HAVE THE MORE YOU BELIEVE THE MORE GOALS YOU SET THE MORE YOU WILL ACHIEVE z SO REACH FOR THE STARS z PICK A MOUNTAIN TO CLIMB z DARE TO THINK BIG z AND GIVE YOURSELF A TIME AND REMEMBER NO MATTER HOW FUTILE THINGS SEEM WITH FAITH, THERE IS NO IMPOSSIBLE DREAM! z ALICE JOYCE DAVIDSON NEVER ACCEPT A ‘NO’ TRIPOD WAS ONE OF THE 10 COOLEST COMPANIES IN USAFORTUNE 7/7/97 CEO BO PEABODY ONCE APPLIED TO WILLIAMS THEY REJECTED IT BO CALLED ADMISSION OFFICE AND SAID, ‘I REJECT YOUR REJECTION. I AM COMING THERE ANYWAY.’ A YEAR LATER HE DID. IT TAKES PERSISTENCE TO SUCCEED-1 JAY LENO WANTED TO WORK IN A ROLLS-ROYCE DEALERSHIP OWNER SAID THERE WERE NO OPENINGS HE STARTED WASHING CARS THERE ANYWAY WHEN NOTICED BY OWNER, HE SAID, “I AM WORKING UNTIL I’M HIRED!” HE WAS HIRED! IT TAKES PERSISTENCE TO SUCCEED-2 IN 1980 A YOUNG MAN APPLIED FOR A JOB IN TIME INC. FRESH OUT OF COLLEGE HE WAS BRIMMING WITH BIG IDEAS- HE WANTED TO BUILD THE MOST VALUABLE, MOST RESPECTED AND MOST IMPORTANT BUSINESS IN THE GLOBE! HE DID NOT GET THE JOB OR EVEN A CHANCE TO MEET THE MAN-IN-CHARGE, GERALD LEVIN IN 2000 THIS YOUNG MAN’S (STEVE CASE) COMPANY –AOL- BOUGHT TIME WARNER FOR $165 BILLION IN THE BIGGEST MERGER EVER! (IT IS ANOTHER MATTER THAT AOL TW ENDED UP MAKING THE LARGEST QUARTER LOSS IN HUMAN HISTORY OF $54 B IN I QR 2002 & the largest ever loss in a year of $98.7B in 2002) IT TAKES PERSISTENCE TO SUCCEED-3 SHE TRIED REVIVING A CRUSADING NEWSPAPER CALLED GEORGIA GAZETTE IT FAILED AS A BUSINESS ENTERPRISE AND FOLDED UP LEAVING HER $250,000 IN DEBT! SHE APPLIED FOR A POST IN THE ECONOMIST AND HER THEME: “I FAILED. YOU LEARN MORE FROM FAILURE THAN SUCCESS!” – WAS HIRED! MARJORIE SCARDINO BEACAME THE FIRST WOMAN TO HEAD A FTSE 100 COMPANY AND CEO OF PEARSON (FINANCIAL TIMES PUBLISHER) AN AMERICAN (TEXAN AND WOMAN) BECOMING A BOSS OF A BRITISH MEDIA CONGLOMERATE WAS NEWS IN BOARD ROOMS AROUND THE WORLD! DOUBLED PEARSON SHARE PRICE IN 2.5 YEARSHALF THE TIME SHE SET AS GOAL FOR HERSELF. VOTED THE MOST POWERFUL WOMAN IN EUROPE BY FORTUNE! WON THE AWARD- DAME OF THE BRITISH EMPIRE IT TAKES COURAGE TO SUCCEED-4 BY JUL 98 SAMSUNG ELECTRONICS WAS LOSING MILLIONS YUN THE CEO AND NINE SR MANAGERS LOCKED THEMSELVES IN A HOTEL ROOM FOR A DAY TO THINK WROTE A PLAN OF ACTION WROTE RESIGNATION LETTERS PLEDGING TO RESIGN IF THEY FAILED REDUCED INVENTORY LEVELS, GOT RID OF GOLF MEMBERSHIPS, CUT OTHER COSTS, SOLD NON PERFORMING SUBSIDIARIES, FIRED NO. OF SR. MANAGERS AND INTRODUCED YOUNG BLOOD IN THE COMPANY. BY 1999 COMPANY WAS SOLIDLY PROFITABLE IN 2000 IT MADE A NET INCOME OF $5B IN 2001 SAMSUNG’S BRAND VALUE ROSE FASTER THAN EVERY ONE’S EXCEPT STARBUCK’S Fortune Apr 1, 02 IT TAKES COURAGE TO SUCCEED-5 A.G.LAFLEY was working as an associate in P&G and wanted to leave as the bureaucracy was stifling. Submitted resignation letter to his boss Steve Donovan. After finding out the reason his boss said: 'You're running away. You don't have the guts to stay and change it. You'll run from the next job too.” Lafley took the challenge and stayed Became Chairman of P&G ! IT TAKES PERSISTENCE TO SUCCEED-6 Jamaican Asafa Powell wanted to be a great runner Traveled to Texas to train with his brother Donovana 100 m semi-finalist in 99 World championship After several sessions Donovan told him to do something else! Asafa was determined to carry on and did not give up In Jun 05 he became the world’s fastest man clocking 9.77 seconds for his 100m dash in Athens! In May 2007 again Powell led from start to finish to clock 9.97 seconds in his return from a bout with knee tendinitis at the Artur Takac Memorial athletics meet in the Serbian capital. IT TAKES PERSISTENCE TO SUCCEED-7 Bob Noyce sketched his ideas for an IC in an engineering note book–then forgot about it! Jack Kilby was alone working in a lab while his 7500 colleagues took a summer vacation in Texas Instruments! He discovered the IC and won the Nobel Physics Prize in 2000! IC is a Trillion dollar industry today! IT TAKES PERSISTENCE TO SUCCEED-8 Severe TB made it impossible for Som Bahadur Pun to even walk and he was out of practice for 6 months and was on the verge of emotional breakdown; went on to win Commonwealth boxing championship in Aug 2005 Jugraj Singh came back after a life-threatening accident to play hockey Pataudi led the Indian cricket team after losing an eye Leander Peas came back after neurocysticercosis a parasitic infection of the brain to lead India in Tennis It took 5 years and 17 flops for Abhishek Bachan to become the hottest male super star at the age of 29 FAILED? DROPPED OUT OF COLLEGE? YOU ARE IN GREAT COMPANY! THINK OF THE RICHEST GUYS ON MOTHER EARTH z THINK OF SOME REAL COOL AND SMART GUYS z BILL GATES(MS), ELLISON(ORACLE) MICHAEL DELL(DELL COMPUTER), MUKESH AMBANI, RICHARD BRANSON, MARK ZUCKERBERG (FACEBOOK) MARLON BRANDO, HUMPHREY BOGART, CHARLIE CHAPLIN, SEAN CONNERY, BOB DYLAN, LOUIS ARMSTRONG, AFFLECK AND DAMON OF LIVEPLANET (WON OSCAR) WHAT IS COMMON BETWEEN ALL THESE GUYS? z THEY ARE ALL COLLEGE DROP OUTS OR DID NOT HAVE DEGREES! Failed? Rejected? You could win even the Nobel! Failed in Entrance test for MIT z Got 497 against minimum marks required of: 500 Got very low marks in Maths Won the Nobel prize in PHYSICS! Invented the Microchip, the best and the biggest invention since the electric bulb! Without Jack Kilby, there would be no computer, no cell phone, no internet- nothing! FAILURE DOES NOT MEAN A THING!-1 THE COMPANY WENT FOR ITS IPO IN 1993 IPO BOMBED! UNDERWRITERS PICKED UP THE ISSUE FAST FORWARD 8 YEARS! IN 2000-01 THE COMPANY POSTED CLOSE TO RS 2000 CRORES IN REVENUE NOW IT IS AN IT GIANT THE WHOLE WORLD KNOWS! EVEN A CHILD NOW KNOWS THE PROMOTER AND THE COMPANY AND WANTS TO OWN A FEW SHARES! z PROMOTER: NARAYANAMURTHY.N.R z COMPANY: INFOSYS Failure does not mean a thing!-2 “My first real job was as a foreign affairs and business editor of a large-circulation afternoon paper in Frankfurt. I brought my first two editorials to the editor-in-chief, a German. He took one look at them and threw them back at me saying, 'They are no good at all.' After I'd been on the job for three weeks, he called me in and said, 'Drucker, if you don't improve radically in the next three weeks, you'd better look for another job.” z This is Peter Drucker! Can you believe it!? The indomitable human spirit Mark Inglis lost both his legs to frost bite in 1982 after being stranded in a snow cave. Then he went on to become the first double amputee to climb mount Everest! The indomitable human spirit In 2002 he underwent an open heart surgery In 2009 he won the super body title in bantam weight category at the 2009 Musclemania world championship in Florida in Jun! z Mr.Universe Mahadev Deka TOI 25 Jun 09 The indomitable human spirit Kelly perkins had a heart transplant over 10 years ago She has climbed Matterhorn, Mount Fiji and Mount Kilimanjaro with another person’s heart beating in her chest! The doctors had told her she would live a maximum of 10 years after the transplant! The Indomitable human spirit Jessica Cox 25 from Tuscon, a girl born without both arms has got the Sport Pilot certificate! She is the first person to fly using only her feet! The Indomitable human spirit Daniela Garcia lost –both legs and both hands in a train accident A year after the accident she re-entered medical school where she was studying! Now she : z z z z z z Is married rides her bicycle drives her SUV Is Best seller author of her life story ‘Elegi Vivir’ Is named woman of the year in Chile 2006/07 Is the first quadrilateral amputee physician in the world! Your life will be what you do with it! RD India Jan 10 The indomitable human spirit South American kidnappers of Tom Hart Dyke told him he was to be executed in 5 hours. He sat and designed a grand plan for a garden for his ancestral home. For some reason they let him go and he built the ‘world garden’ which has 8000 plants from around the world. He helped save his family castle from the verge of bankruptcy and it now attracts upto 20000 visitors a day! Today’s Billionaires were yesterday’s failures! His yarn factory went bust in early 90s. His branded apparel business went nowhere. Then Kishore Biyani found retail. He is now the largest retailer of India. In 2000 he failed to get an order from Nasdàq and his company’s (Financial technologies) Turnover dropped from Rs 195 lacs to Rs 20 lacs. He then made money in commodity exchanges, his passion. Jignesh Shah has co-promoted 2 exchanges MCX and the Dubai gold and commodity exchange. In 2000 Tulsi Tanti was struggling to create an integrated wind energy business. He didn’t even have technology to make rotor blades and gear boxes, key components in wind mills. Today Suzlon is one of the largest Wind Turbine manufacturers in the World. All 3 became Re billionaires! Famous failures-1 James Gosling and his colleagues developed Java in 1990’s for telephone companies. When they knew Java would let their customers use different hardware, they gave a thumbs down. Gosling said it was like trying to sell a better mouse trap to people who loved mice! He persisted and we all know Internet adopted Java with a vengeance. Famous failures-2 Louise Poirier’s design for a bra took 30 years to become an ‘overnight sensation’. Yann Martel’s first two books did poorly; his third book was turned down by his old publisher and 5 others. An unknown company published it- Life of Pi won the Man Booker Prize in 2002. The first big screen cinema of Graeme Ferguson and friends developed in 1967 projected fractured images. Now MAX format is famous across the world. Joseph-Armand Bombardier’s snow vehicle made such a racket when first made, that it took 13 more years of tinkering to come up with a workable one. WHAT NASA JPL HEAD SAYS ABOUT FAILURE Mars failure in 1998:My statement to the senior people: z "We have spent $400 million training you. You have to learn from those mistakes, and I'm sure you will not repeat them." Of the two lead people on that project, one is deputy project manager for Spirit and Opportunity (Mars missions). The other person is heading a series of missions for JPL. z Reason : these people did not fail because they were dumb. They failed for lot of other factors -pressure on budget, lack of personnel etc. Charles Elachi, Director Jet Propulsion Lab, NASA Fail a million times To ask a scientist whether he has experienced failure is like asking an artist whether he has ever made a sketch. The answer is ‘a million times’. That is the price of success. z John Polanyi –Nobel prize winner Turn failure into Success David Denby- film critic for the New yorker Lost everything he had in the Dotcom burst- even his 401(k) plan which he had moved to shares Went on to write ‘American sucker’ z the tale of Denby's ill-fated attempt to ride the dot-com wave in 2000! YOU COULD BE A WORLD BEATER LOOKING FOR THAT BREAK! HE WAS FIRED THREE TIMES AS A BASEBALL COACH z ONE TALENT SCOUT DISMISSED HIM AS: A FAT KID WITH NO SPEED! HIS NEW BOSS GEORGE STEINBRENNER HAD CHANGED 21 MANAGERS IN 24 YEARS AND WAS A TERROR! STILL JOE TORRE WENT ON TO BECOME ONE OF THE BEST COACHES EVER! z YANKEES WON WORLD SERIES FOUR TIMES IN FIVE YEARS! HIS STRENGTH: EMOTIONAL INTELLIGENCE z BELIEVES IN HIS PLAYERS 110% z A PLAYER SAYS: “YOU WILL LOSE CONFIDENCE IN YOURSELF LONG BEFORE JOE LOSES CONFIDENCE IN YOU!” Fortune Apr, 30,2001 World beaters-what stands out? Derek Jeter and D’Angelo Jimenez are both short stops in New York Yankees. Derek Jeter is the highest paid at $12.6 M. Jimenez got $200,000. Moral: If necessary, you have to pay 63 times more to the guy who performs even in a world beating team! All the world’s greatest companies practice ‘differentiation’. At the Olympics the difference between the Gold medal and the no medal is mostly less than 2%! Moral: 98th percentile is not good enough for a winning team. WHAT DO WORLD BEATERS DO?-DREAM! Can anyone build a plane which will hold 6 go 1200 miles on a tank of gas Cost 56 cents a mile to operate! Vern Raburn and Dottie Hall are doing just that in Eclipse aviation Morals: z DREAM the impossible dream z Rethink everything- ex: they are using Friction stir welding –never before used for aircrafts z Customers deposit cash and thus become the Marketing people! z Create new markets – they found a brand new way for people to use jet aircraft- air taxis-they have $3B in orders from prospective air taxi operators See www.eclipseavaiation.com z Fortune Apr 1, 02 Nothing is not possible! George studied very hard and late into night. He overslept one morning, arriving late for class Quickly he copied the two math problems on the board, assuming they were the homework assignment. After several days he finished the solutions and dropped the homework on the professor's desk George was awakened at 6 a.m. next day by his excited professor. The two unsolvable equations on the board were mathematical mind teasers that even Einstein hadn't been able to answer. George solved the problems because he didn't know he couldn't. Like the Bumble bee which flies, as it does not know that aerodynamically speaking it simply cannot fly! Nothing is not possible She virtually grew up in hospitals She had one leg and was on leg braces She was black and had very little money But she set her eyes on competing in Skiing for the Disabled Olympics in Innsbruck, Austria When somehow she reached the elite ski academy at Vermont, her real leg broke and then her artificial leg broke in half later! She went on to win the silver medal! She also finished degrees from Harvard and Oxford, won a Rhodes scholarship , won awards as an IBM sales rep and garnered high praise as a White House official on the National economic council! Bonnie St.John Deane , author of The winning spirit Nothing is not possible A girl from Chennai could become the most powerful business woman in USA! Yes, Indira Nooyi, CEO of Pepsi She attributes much of her success to her upbringing in India! "Being a woman, being foreign-born, you've got to be smarter than anyone else," says Nooyi, She honors her heritage by often attending PepsiCo events wearing a sari. z When she attended the first job interview after Yale in a western suit she was rejected; when she wore a sari for her next interview with BCG, she got the job! Nooyi also serves on numerous boards, including Motorola and New York's Lincoln Center for the Performing Arts. Reads books from 11 pm to 2 am every day! Nothing is not possible Uma Choudhry is the first woman to head R&D in Dupont’s 205 year history! Heads a team of 5000 scientists across 75 R&D centres around the world with budget of $1.4 B! Dupont got 20 different patents based on her research in ceramic super conducting materials She came saree-clad in 1968 to US with $8 in her pocket Now a top contender for the CEO post! Metal guru’s humble beginnings The world’s fourth richest man Lakshmi Mittal was born in a modest house in Sadulpur, Rajasthan which had no electricity or piped water till 1960’s! In 1975 at the age of 26 he was sent by his father to Surabaya to sell off lands proposed for a steel mill and it was beset with bureaucratic obstacles. He got all permits needed and rang his father, “I am building the plant here.” That spirit enabled him to build a Global steel empire in 60 countries employing 320000 people. Do not limit yourself by past expectations! Vivek Paul ex-CEO of Wipro tells this story to illustrate it! He saw a huge elephant tied to a small stake and asked the mahout how that is possible. He said, 'When the elephants are small, they try to pull out the stake, and they fail. When they grow large, they never try to pull out the stake again.’ QUALIFICATION DOES NOT MEAN ANY(EVERY)THING! 33 COMPANIES IN THE LIST OF ‘WHY CEO’S FAIL” STUDY z 40% OF THESE CEOS WERE MBA’S OF THESE TWO WERE IN THE LIST OF HBS STARS z REASONS FOR FAILURE: POOR PEOPLE SKILLS AND BAD EXECUTION! TWO GREATEST MANAGERS OF ALL TIME HAD A Ph.D IN CHEMICAL ENGG (ANDY GROVE AND JACK WELCH) OF THE 19 STARS OF HBS IN 1990 z TEN HAD RUN INTO MAJOR PROBLEMS OF THIS SOME WERE IN COMPANIES WHICH DECLARED BANKRUPTCY! FORTUNE 19 FEB 01 Some recent quotes on MBAs! The Masters of Disaster have their fingerprints on every recent financial fiasco. z SEC Chairman Christopher Cox If Robespierre were to ascend from hell and seek out today’s guillotine fodder, he might start with a list of those with 3 incriminating initials beside their name: MBA MBA stands for “Me before Anyone” z Philip Delves Broughton-himself a HBS MBA! Fortune Oct 26, 09 WHERE YOU COME FROM MEANS NOTHING!-1 SHE WAS THE OLDEST OF FIVE CHILDREN OF A DOCTOR IN NEPAL GREW UP IN RURAL AREA WITHOUT ELECTRICITY! PARENTS WANTED HER AT AGE 17 TO GET MARRIED AND RAISE A FAMILY SUDHA INSTEAD WENT TO USA TO STUDY IN MILLS COLLEGE; SHE WAS IN ORACLE AND THEN MOVED TO SAP. IN 2000 SUDHA SHAH TSOU WAS THE SECOND BIGGEST SALES PERSON IN SAP, USA SHE BLASTED THROUGH HER SALES QUOTA BY OVER 400% BRINGING $40 M IN REVENUE TO SAP, RIGHT THROUGH THE RECESSION! HER COMPENSATION EXCEEDED $800,000 LAST YEAR! A CUSTOMER SAYS: ‘SHE IS A BALL OF ENERGY; WHEN SHE SAYS SHE WOULD CHECK AND CALL BACK, SHE CERTAINLY WOULD; I WOULD DO ANYTHING FOR SUDHA’ HER GLASS IS NEVER HALF-FULL; IT IS ALWAYS OVERFLOWING! z FORTUNE AUG 13, 01 WHERE YOU COME FROM MEANS NOTHING!-2 As a child he survived Nazi invasion of Hungary He left in middle of night crossed over to Austria. The organization which helped jews go to USA rejected him. He simply refused to accept rejection! Survived scarlet fever which left him partly deaf Went on to form Intel with Robert Noyce and Gordon Moore (of the famous Moore’s law) He is Andy grove When he was affected by prostate cancer he researched on the subject and worked out his own treatment regime! WHERE YOU COME FROM MEANS NOTHING!-3 He was sixth of seven children of a poor couple from a village in UP; 17 of one family lived in a small house without plumbing or electricity. Ram Charan today is one of the biggest management consultants in the world and is consulted by GE, P&G, Thomson corp., Verizon etc.! Jack welch says: “He has this rare ability to distill meaningful from meaningless and transfer it to others in a quiet way without destroying confidences.” z Fortune Apr 30, 07 WHAT YOU WERE DOES NOT MEAN A THING!-1 PAST z z z NOW z z z SHE WAS BLACK SHE WAS OVERWEIGHT SHE CAME FROM DIRT POOR MISSISSIPPI A BILLIONAIRE (richest woman in Entertainment in the World- Forbes) 21 SEASONS, 46 M VIEWERS, NO.1 IN DAY TIME TALK SHOW IN THE WORLD FOR 16 YEARS IN A ROW- ‘THE TALK SHOW OF ANY MILLENNIUM’KING WORLD; AIRS IN 134 COUNTRIES! LAUNCHED THE MOST SUCCESSFUL MAGAZINE EVER- 2.5 M READERS IN 2 YEARS OPRAH WINFREY, OF COURSE WHAT YOU WERE DOES NOT MEAN A THING!-2 He was a Dalit From the chawls of Mumbai Neither of his parents went to school Father was class IV employee in Port Now z z Chief economist of RBI Prolific writer in English and Marathi Was selected Best International student in the US university where he did his Ph.D Dr.Jadhav YOU DO NOT NEED A Ph.D EVEN IN STANFORD JIM COLLINS OF ‘BUILT TO LAST’ FAME WAS NOT A Ph.D AND A LECTURER IN ENTERPREEURSHIP AT STANFORD MORE THAN HALF OF THE STUDENTS WERE USING THEIR OPTION (SILVER BULLET) TO CHOOSE HIS COURSE! HE WAS THE MOST POPULAR LECTURER! z OK- STANFORD FIRED HIM FOR BEING ‘TOO’POPULAR AND HE SAYS ‘THANKS’ AND HAS GONE ON TO WRITE HIS NEXT BLOCKBUSTER MAGNUM OPUS ‘GOOD TO GREAT’ WHO NEEDS A STANFORD LECTURER JOB WHEN YOU ARE JIM COLLINS? DO REMEMBER! Everyone has a talent. What is rare is the courage to nurture it in solitude and to follow the talent to the dark places where it leads. - Erica Jong Be bold! Be bold and the mighty forces will come to your aid! Basil King DO WHAT YOUR HEART WANTS YOU TO DO GARTH BROOKS WANTED TO BE A SINGER. HIS MOTHER SAID ‘GET A DEGREE AND A REAL JOB!’ z MOTHERS ARE SUPPOSED TO SAY THAT. GARTH BROOKS TOOK UP SINGING HE SOLD 128 MILLION RECORDS (RIAA CERTIFIED) -HE’S MUSIC’S BIGGEST SELLING SOLO ARTIST TO DATE; (Elvis has 118.5M!) z NAMED ARTIST OF THE DECADE AT 34TH ANNUAL ACADEMY OF COUNTRY MUSIC AWARDS ELTON JOHN’S FATHER WANTED HIM TO BE AN ACCOUNTANT! HE FEATURES IN GUINNESS BOOK SIX TIMES AND HAS SOLD TO DATE 70 MILLION ALBUMS DO WHAT EXCITES YOU; DO WHAT YOUR HEART TELLS YOU TO DO. FORGET WHAT OTHERS SAY An expert on the famous football coach Vince Lombardi: “ He possesses minimal football knowledge. Lacks motivation!” Beethoven handled the violin awkwardly and preferred playing his own compositions instead of improving his technique. His teacher called him hopeless as a composer. The teacher of famous opera singer Enrico Caruso said Caruso had no voice at all and could not sing. Walt Disney was fired by a newspaper for lacking ideas. He also went bankrupt several times before he built Disney Land. Warren Buffet the second richest man in the world wanted to work free at Graham-Newman Corp., ; they said no! When asked how he invented the bulb, Edison said, not being a trained scientist he did not know that it could not be invented! “Man was not made for defeat”. z Hemingway Forget even what your teacher says/said! Ben Saunders’ school report when he was 13 said, “Ben lacks sufficient impetus to achieve anything worthwhile”. Ben is only one of four to have skied solo to the North Pole with no outside help z Ben is the youngest by 10 years! Wants to be the only man to have gone to North and South Poles and Everest –all in one year! Don’t be in a rat race! The problem with being in a rat race is even if you win, you are still a rat. Lily Tomlin Kaizen KAIZEN Charles M. Schwab sent a telegram to his boss, Andrew Carnegie : “ Broke all records yesterday” Carnegie sent a telegram asking, “ What have you done today?” DID YOU IMPROVE AT LEAST ONE THING TO-DAY? DID YOU LEARN AT LEAST ONE THING NEW TO DAY? WHAT ONE THING YOU DID TO DAY WAS DIFFERENT FROM YESTERDAY? ALMOST NOTHING WAS EVER ESTABLISHED WITHOUT SET BACK AFTER SETBACK AFTER SET BACK EDISON USED 10000 MATERIALS BEFORE HE GOT THE RIGHT MATERIAL FOR THE BULB Kaizen –self check Henry Kissinger used to do this to get the best out of his assistants. He used to give a project and when the first report was received, just kept it with him for 24 hrs and returned it to the assistant saying he can do better. He repeated it till the assistant told him that it was his best and he could do no better. Then only he started reading the report! Do a Kaizen self check on your work. Are you delivering your absolute BEST every time? Do it differently or Add a little extra to everything you do Do it differently A blind man sat on the steps of a building with a hat by his feet and a sign that read: "I AM BLIND PLEASE HELP". A creative publicist was walking by him and stopped to observe, that he only had a few coins in his hat. He dropped a few more coins into his hat and without saying anything, took the sign, turned it around, and wrote on it...................... . He placed back the sign by the blind man's feet and left. When he came back that evening, the hat was FULL! The sign read: "TODAY IS SPRING, BUT I CANNOT SEE IT". Moral of the story: A change in strategic outlook, can turn our life around !! WINNERS LOOK FOR OPPORTUNITIES ALWAYS CEO OF MANNESMANN WAS SMARTER AND SPENT MOST OF HIS TIME LOOKING FOR THE NEXT BIG OPPORTUNITY IN TELECOM, MANNESMANN WAS BETTER MANAGED COMPARED TO VODAFONE! CEO OF VODAFONE KNEW LESS ABOUT TELECOM BUT SPENT MOST OF HIS TIME LOOKING FOR WHAT WAS MISSING IN HIS PORTFOLIO. VODAFONE ACQUIRED MANNESMANN!! IT IS ANOTHER STORY THAT NOW (APR 02) VODAFONE FACES A GOOD WILL WRITE OFF OF $36 B ON ACCOUNT OF THE MANNESMANN ACQUISITION! NOW WHO IS REALLY SMARTER?! WANT A RAISE? TRY WHAT FORMER N.Y. TIMES SPORTS COLUMNIST JOHN KIERAN DID! WENT TO ADOLPH OCHS, HIS EMPLOYER AND SAID, “MR. OCHS, WORKING FOR THE TIMES IS A LUXURY I CAN NO LONGER AFFORD.” Interview? Learn from Subrato Bagchi The Interviewers asked Subrato, what he knew about Diego Garcia? He told them: z The history of the largest island in the Chagos archipelago z Its strategic military importance z The exact distance of the island from Kanyakumari z The length of its runway z The proposed extension of the runway to 12000 ft. z The no. of B 12 bombers stationed there. z How long would it take a long range B 52 bomber to reach New Delhi and return without re-fuelling. There were no further questions. Obviously! He was selected the best NCC cadet of the country! GRAB THE OPPORTUNITIES WHEN THEY COME! IBM HANDED OVER ITS PC SYSTEM SOFTWARE BUSINESS TO A YOUNG COLLEGE DROP OUT IBM ALSO HANDED OVER A NEW KIND OF DATABASE, WHICH IT DID NOT KNOW WHAT TO DO WITH, TO ANOTHER COLLEGE DROP OUT THEY GRABBED THESE MONEYSPINNERS AND BECAME THE TWO RICHEST MEN ON THE PLANET! z BILL GATES AND LARRY ELLISON! Be effective! Efficiency is doing things right, and Effectiveness is doing the right thing . z Peter Drucker BE FAST; BE FIRST A GEAR CHANGE IN FORMULA 1 RACING TAKES 20 MILLISECONDS. A BLINK TAKES 30! (Incidentally blinking is the fastest thing a human being does!) IN THE TIME IT TOOK TO BAT YOUR EYELIDS, AN F1 DRIVER CAN EXECUTE A FULL GEAR CHANGE. DURING WHICH, ENGINE HAS TO BE CUT, THE GEAR CHANGED AND THE ENGINE REFIRED AGAIN! THAT IS THE TYPE OF SPEED REQUIRED IN ANY WORK FOR ONE TO BE AT THE FOREFRONT. z AN AD FOR MERCEDES-BENZ THERE IS NO BORING WORK STEVE MULVANY WAS EMPLOYED IN A CANNERY z HIS JOB TURN OFF MACHINE IF SOMETHING WENT WRONG PUT LIDS INTO THE MACHINE z BORING? z HE COUNTED THE LIDS AND STARTED TO BEAT HIS BEST DAY z HE PHENOMENALLY IMPROVED THE PRODUCTIVITY AND BECAME THE BEST Steve Mulvany is now President and founder of Management Tools Inc HALF FULL OR HALF EMPTY? SHOPKEEPER HAS A WHITE PORCELAIN DINNER SET WITH FLORAL PATTERN FIRST CUSTOMER IS TOLD: z 12 PLACE SETTINGS ARE THERE BUT A FEW PIECES ARE MISSING z CUSTOMER FROWNS AND LEAVES SECOND CUSTOMER IS TOLD: z THERE ARE 8 SETTINGS WITH SOME EXTRA PIECES THROWN IN z SALE MADE! WORK SHOULD BE MORE FUN THAN FUN! “THIS IS THE BEST PLACE TO WORK IN THE WORLD, AND WE HAVE THE BEST PEOPLE IN THE WORLD. AT SOUTHWEST, AUDITING IS STILL CHALLENGING AND OFTEN DIFFICULT; BUT WE ARE VALUED. OUR OPINIONS ARE HEARD AND RESPECTED, AND WE KNOW WE MAKE A DIFFERENCE. HERE, PEOPLE FEEL BETTER ABOUT THEMSELVES AND THEIR CONTRIBUTIONS. NOT ONLY IS IT MORE FUN; IT IS JUST GOOD BUSINESS.” z V.P OF INTERNAL AUDIT, AL DAVIS. Follow your own instincts! Sumner Redstone Chairman of Viacom felt MTV & Nickelodeon were good businesses. Everyone around him said: MTV is a fad. Nickelodeon would never make it. He saw MTV not as just a music channel but as a cultural channel, a generational channel, and a channel that could travel around the world. As for Nickelodeon, his instincts as a parent and as a grandparent told him it would work. The Company is worth many billions today! When 'everyone knows' something to be true, nobody knows nothing "Our little research group at Fairchild some 40 years ago started to study the characteristics of surface layers that were the heart of modern integrated circuits. At that time, 'everybody knew' that surface states, an artifice of quantum mechanics, would interfere with us building such chips. As it turns out, nobody knew nothin': We never found any surface states; what we found was trace contamination. When we identified and removed this, the road opened up to the chip industry as we know it today.” z Andy Grove FORGET WHAT THE PROVERB SAYS-1 “YOU CAN ONLY TAKE THE HORSE TO WATER; YOU CAN’T MAKE HIM DRINK.” RIGHT? z NO. WRONG. YOUR JOB IS TO z MAKE THE HORSE THIRSTY! FORGET WHAT THE PROVERB SAYS-2 BETTER LATE THAN NEVER. RIGHT? z WRONG! THE NEW SLOGAN IS: BETTER NEVER THAN LATE! THERE IS NO ROOM FOR THE SLOWLANE MANAGER OR SLOW-LANE ANYONE IN THIS FAST WORLD! IT IS NEVER TOO LATE TO BE WHAT YOU MIGHT HAVE BEEN. z GEORGE ELIOT WHAT CAN ONE PERSON DO? A LOT! SUNBEAM’S SHARE ROSE 49% ON THE DAY AL DUNLAP WAS HIRED! WHEN JAMIE DIMON WAS FIRED AS PRESIDENT OF CITI BANK IN NOV 98 ITS STOCK SANK BY $11 BILLION! WHEN HE WAS NAMED CEO OF BANC ONE IN LATE MARCH ITS STOCK ROSE BY $ 7 BILLION ONE PERSON CAN MAKE A HELL-OF-A DIFFERENCE! YOU CAN MAKE A DIFFERENCE! z Note: In Jan 04, J.P.Morgan and Bank one have merged in a $58 B deal! z In 2008 J.P.Morgan Chase was ranked 12th in Fortune 500! What can we learn from Jamie Dimon’s stint at Bank one? Transformed $511 M loss in 2000 into $3.5 B profit for 2003. z z z Slashed expenses by 17% or $ 1.5 B Dropped all unprofitable credits Transformed a crazy quilt of 7 deposit systems into one super efficient platform. Hates taking big risks and likes strong Balance sheets. Manages for the worst, assuming a recession is just around the corner. Has installed a sophisticated risk-management system. z Thanks to this system, Bank one pared its loans to Worldcom and other tech companies before the bubble burst. Manages relentlessly by collecting information. Talks to as many people at every level in the organization. Forges personal bonds with hundreds of people in the bank For him bank is like retail- it is a question of sales per sq.ft, how many mortgages, credit cards and car loans you can sell through the same branch. WHAT CAN ONE PERSON DO?-2 SHE HAD A DEGREE IN FRENCH LITERATURE ; HATED MOBILE PHONES; HAD NEVER USED INTERNET TOOK OVER AS DOCOMO’S MOBILE INTERNET PROJECT EDITOR-IN-CHIEF IN JAPAN IN 1997 SHE JUST KNEW ONE THING –CUSTOMERS DID NOT WANT TECHNOLOGY-THEY WANTED USEFULNESS SHE WENT AGAINST McKINSEY RECOMMENDATIONS AND DECIDED WHAT SHE FELT WAS CORRECT AND DESIGNED I MODE I MODE USE ZOOMED FROM ZERO IN FEB 1999 TO 17 MILLION BY END 2000! 30% OF JAPAN USES IMODE MARI MATSUNAGA VOTED THE MOST POWERFUL WOMAN IN ASIA BY FORTUNE How important is a little job? Very- if the humdrum of the job can be linked to a larger cause After Sep 11, 2001 every one was feeling helpless. Not Mark Loehr, the CEO of Sound View Technology Group. He said “Profits from one entire day’ s earnings would go to victim relief.” The firm earned $6 M far exceeding the firm’s previous one day high of $1.2 M He also urged the employees to write down their thoughts on the terrorist attack. Poems, reflections and stories poured in. That day (Sep 30) became one of the most important days in their lives. z Fortune Nov 12,01 Four kinds of people 1-Those who make things happen 2-Those who watch things happen 3-Those who wonder what happened 4-Those who don’t know that anything happened! z Be the first kind! Benchmark best practices Nothing is original Outside of the Thirukural,the Geeta, Bible, Emerson and Shakespeare, very little has been written or expressed that is original! So copy un ashamedly from other’s ideas! WORLD CLASS SERVICE-1 YOU CAN RENDER WORLD CLASS SERVICE IN ANYTHING z PALISKA BROS. HAVE PERFECTED THE ART OF PARKING CARS! DE-MAR IS A WORLD CLASS PLUMBER GUARANTEED SAME DAY SERVICE ONE YEAR GUARANTEE 7 DAYS A WEEK, 24 HOURS A DAY SR. CITIZEN DISCOUNTS THANK YOU CARDS FOLLOW UP PHONE SURVEYS STRICT DRESS CODES SPOTLESS YELLOW TRUCKS 2% OF GROSS REVENUE ON TRAINING World class service-2 Here are some of the things you can expect at The World’s Largest Laundromat in 13500 sq.ft area: z z z z z z z z z z z z Birds Children’s play area Donuts Spanish-language soap operas. A Saturday-afternoon carnival with magicians, jugglers, face painters, even a unicyclist. Santa Claus posing for pictures at Christmas The Easter Bunny handing out chocolate in April. Free pizza Wednesday nights Free wireless Internet access 24/7 Diner-style booths by the vending machines with candy and chips, White Castle hamburgers and other microwaveable products Neon signs blaring "Welcome" in 20 languages Open 24 hours, every day of the year Even a call centre can be world class! A wake up call with a twist! Orlando Marriott in Florida. 7 o’clock wake up call. ‘Good morning Dr. B, it’s seven o’clock,’ caller says. ‘It’s going to be 75degrees here today, but the computer says you’re leaving. Where are you going?’ ‘New York City’, B said. ‘New York City? Let me see what the weather report in the paper says…Oh dear. It’s gonna be 40 degrees and raining in New York. Couldn’t you stay another day?’ “B asked for the woman’s name and was told it was Juanita. Next was a speaking engagement in Orlando and B found he was booked into a different hotel. His reaction, : ‘But, I want to be in the Marriott, so I can speak to Juanita in the morning!’ “ Isn’t that WOW! The parable of the cow in the ditch! – an universal solution! ‘First, get the cow out of the ditch. Second, find out how the cow got into the ditch. Third, make sure you do whatever it takes so the cow doesn't go into the ditch again.' z Anne Mulcahy, CEO of Xerox Ethics It is nonsense to say- in India you can’t do business ethically If Azim Premji, Narayanamurthy, the Tatas and scores of others can do business in India the ethical way, why can’t every one ? Budhadeb is proving in Kolkatta, even politicians can be squeaky clean! REMEMBER- AZIM PREMJI’S TEN COMMANDMENTS Lesson #1: Dare to Dream Lesson #2: Define what you stand for Lesson #3: Never lose your zest and curiosity Lesson #4: Always strive for excellence Lesson #5: Build self-confidence Lesson #6: Learn to work in teams Lesson #7: Take care of yourself Lesson #8: Persevere Lesson #9: Have broader social vision Lesson #10: Never let success go to your head THEY WILL SAY WOW FOLLOW THE RULES OF: z ICHIBAN z KAIZEN z BENCH MARKING z BETTER MOUSE TRAP AND z ETHICS THE CLIENT WILL TELL HIS FRIEND, HIS WIFE, HIS COUSIN AND THE BUS DRIVER THAT YOU ARE “NEAT”, “COOL” ,“WOW” & “HOLY SMOKES” ISN’T THAT WHAT YOU WANT TO HEAR? YOU ARE GOD’S MASTERPIECE-MAKE THE MOST OF IT. z MARY KAY ASH ACKNOWLEDGMENTS TOM PETERS CARL SEWELL STEPHEN R. COVEY FORTUNE MAGAZINE AND NUMEROUS OTHERS LET ME CONFESS: NOT A SINGLE IDEA IS MINE!